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Consumer Financial Protection Bureau (CFPB) Car Dealerships Financial Services Industry

Hudson Cook, LLP

Consumer Financial Services Bites of the Month - June 2025

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In this month's article, we share some of our top "bites" covered during the June 2025 webinar....more

Ballard Spahr LLP

CFPB wins default judgment in auto dealership complaint, but federal judge rejects bureau assessment of damages

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A federal District Judge for the Northern District of Georgia, Victoria Marie Calvert, awarded a default judgment to the CFPB against USASF, a car loan servicer of loans originated by U.S. Auto Sales Inc., a buy-here,...more

Ballard Spahr LLP

Fifth Circuit Court of Appeals Schedules Oral Arguments in CARS Rule Challenge for Oct 7

Ballard Spahr LLP on

The Fifth Circuit Court of Appeals has set oral arguments for Oct. 7 in the challenge of the Federal Trade Commission’s Combating Auto Retail Scams Rule (“CARS Rule”). The petition, filed on January 5, 2024 by the National...more

Ballard Spahr LLP

Auto dealer trade groups challenge FTC CARS Rule in Fifth Circuit

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On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”). In the petition, the National...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 8, 2024)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

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The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

Cozen O'Connor

FTC is Riding Shotgun with Potential Car Buyers

Cozen O'Connor on

The FTC finalized a new rule intended to protect consumers buying a new car from unlawful and deceptive sales tactics pursuant to its authority under the Dodd-Frank Act to prescribe rules relating to unfair or deceptive...more

McGlinchey Stafford

Junk Fee Supervisory and Enforcement Activity Targets Auto Servicers

McGlinchey Stafford on

For almost two years, the Consumer Financial Protection Bureau (CFPB) has made combating so-called junk fees an agency priority, bringing multiple enforcement actions, undertaking supervisory activity, and collaborating with...more

Brownstein Hyatt Farber Schreck

A Quiet Policymaking Power Grab

Federal agencies look to expand regulatory reach using sweeping UDAAP and UDAP authority - With active regulatory agendas at several federal agencies and what seems like back-to-back hearings considering legislative...more

Hudson Cook, LLP

Is Different Pricing for Non-Credit Products and Services Illegal Discrimination? Yes, Says the CFPB, Massachusetts, and the FTC

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The Consumer Financial Protection Bureau made news this year when it announced that it considered discrimination to be illegal as an "unfair" practice, including in situations where fair lending laws do not apply. In March,...more

Morgan Lewis

Proposed Trade Regulation Rule on Auto Dealer Sales Practices Could Dramatically Affect Auto Finance

Morgan Lewis on

By a 4-1 vote on June 23, 2022, the US Federal Trade Commission (FTC) issued a notice of proposed rulemaking that is squarely aimed at changing the way dealers interact with customers in the automotive financing process, with...more

Hudson Cook, LLP

State Regulator Pursues Disparate Impact in Auto Finance

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Players in the auto finance industry have been watching the Consumer Financial Protection Bureau ping-pong over the last several years regarding disparate impact theories under the Equal Credit Opportunity Act. The disparate...more

Hudson Cook, LLP

CFPB, The Roadmap Forward - Part Three

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Part Three: Risk Reward Will Always be Part of the Subprime Future - We resume our conversation where we left off on Part Two with a question citing the Taskforce report with recommendations for improved financial...more

Ballard Spahr LLP

FTC sends 2016 ECOA report to CFPB

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The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. The FTC has authority to enforce the ECOA and Reg B as to...more

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